I also attended the meeting.
Started promptly at 10 . . . and the official meeting only lasted 8 minutes.
Probably around 100 in attendence.
Incumbent directors were introduced . . . all wearing yellow roses on their suit lapels.
8 chairs for the SAVITR delegation were reserved at the rear of the seating . . . all were occupied . . . and Andrew Midlar was introduced and stood to be recognized.
The chair advised that approx 30.7M / 74% of votes cast were Yellow and 11M / 26% were Green and that the incumbent directors were re-elected subject to final confirmation and tabulation of the votes.
Loud round of applause when JC and company announced as being re elected.
David of ROTHSCHILD advised that 56 sets of Sale Docs had been sent out to prospective bidders and that 15 or 16 were currently in the data room analyzing all of the company's data.
Jeff spoke for a few minutes after the AGM ended about his last 12 years of effort with the company developing it into a $400M company and responded to 2 or 3 minor questions from the floor. He also indicated there would be no turning back and the company would be sold and that the company is currently returning approx $48M in annual revenue and that they are all trying to maximize the return for the shareholders.
The formalities ended then and various groups milled about discussing the meeting.
I spoke briefly with David after and he indicated there would be an initial deadline for submissions from prospective buyers and they would have to be in accordance with the requirements issued to them . . . would not say what the deadline was but my sense is that it is probably sometime in Oct . . . those submissions will then be reviewed . . . then some bidders may be eliminated and others brought forward for further submission and discussion and negotiation rounds until one remains. They are hopeful to have the process complete and the transformation from shares in our accounts to cash in our accounts by the end of Jan 2013 although that is not a hard and fast guaranteed deadline . . . varying factors could come into play along the way that could delay the process and will of course depend on the bids submitted and how many have to be processed. Different companies will probably submit different proposals with different scopes of inclusion and varying formats of financing . . . all will require a lot of review and diligence to determine what is in the best interest of WND. They have a high level of interest and some very significant companies examining WND.
Looking forward to the next few months . . . should be exciting!
BR